BENTLEY SYSTEMS INC-CLASS B (BSY) Stock Fundamental Analysis

NASDAQ:BSY • US08265T2087

32.45 USD
+0.11 (+0.34%)
Last: Feb 25, 2026, 12:29 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

BSY gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 274 industry peers in the Software industry. BSY has an excellent profitability rating, but there are concerns on its financial health. BSY is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • BSY had positive earnings in the past year.
  • In the past year BSY had a positive cash flow from operations.
  • In the past 5 years BSY has always been profitable.
  • BSY had a positive operating cash flow in each of the past 5 years.
BSY Yearly Net Income VS EBIT VS OCF VS FCFBSY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 7.77%, BSY is in the better half of the industry, outperforming 79.56% of the companies in the same industry.
  • BSY has a better Return On Equity (22.53%) than 89.05% of its industry peers.
  • With an excellent Return On Invested Capital value of 10.86%, BSY belongs to the best of the industry, outperforming 85.40% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for BSY is below the industry average of 10.77%.
  • The 3 year average ROIC (8.00%) for BSY is below the current ROIC(10.86%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.77%
ROE 22.53%
ROIC 10.86%
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
BSY Yearly ROA, ROE, ROICBSY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

1.3 Margins

  • BSY has a better Profit Margin (18.44%) than 81.39% of its industry peers.
  • BSY's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 24.23%, BSY belongs to the top of the industry, outperforming 88.69% of the companies in the same industry.
  • BSY's Operating Margin has improved in the last couple of years.
  • BSY has a Gross Margin of 81.20%. This is amongst the best in the industry. BSY outperforms 83.94% of its industry peers.
  • In the last couple of years the Gross Margin of BSY has remained more or less at the same level.
Industry RankSector Rank
OM 24.23%
PM (TTM) 18.44%
GM 81.2%
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
BSY Yearly Profit, Operating, Gross MarginsBSY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BSY is creating some value.
  • Compared to 1 year ago, BSY has more shares outstanding
  • BSY has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, BSY has an improved debt to assets ratio.
BSY Yearly Shares OutstandingBSY Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
BSY Yearly Total Debt VS Total AssetsBSY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • An Altman-Z score of 3.23 indicates that BSY is not in any danger for bankruptcy at the moment.
  • BSY has a better Altman-Z score (3.23) than 67.52% of its industry peers.
  • BSY has a debt to FCF ratio of 2.71. This is a good value and a sign of high solvency as BSY would need 2.71 years to pay back of all of its debts.
  • BSY has a Debt to FCF ratio of 2.71. This is in the better half of the industry: BSY outperforms 64.23% of its industry peers.
  • A Debt/Equity ratio of 1.04 is on the high side and indicates that BSY has dependencies on debt financing.
  • BSY has a worse Debt to Equity ratio (1.04) than 77.74% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 2.71
Altman-Z 3.23
ROIC/WACC1.05
WACC10.35%
BSY Yearly LT Debt VS Equity VS FCFBSY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 0.61 indicates that BSY may have some problems paying its short term obligations.
  • BSY has a worse Current ratio (0.61) than 91.24% of its industry peers.
  • A Quick Ratio of 0.61 indicates that BSY may have some problems paying its short term obligations.
  • BSY has a worse Quick ratio (0.61) than 91.24% of its industry peers.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.61
BSY Yearly Current Assets VS Current LiabilitesBSY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 8.49% over the past year.
  • Measured over the past years, BSY shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.41% on average per year.
  • Looking at the last year, BSY shows a quite strong growth in Revenue. The Revenue has grown by 11.12% in the last year.
  • BSY shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.93% yearly.
EPS 1Y (TTM)8.49%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%12.5%
Revenue 1Y (TTM)11.12%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%12.05%

3.2 Future

  • Based on estimates for the next years, BSY will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.67% on average per year.
  • The Revenue is expected to grow by 10.82% on average over the next years. This is quite good.
EPS Next Y11.5%
EPS Next 2Y12.52%
EPS Next 3Y12.92%
EPS Next 5Y14.67%
Revenue Next Year10.24%
Revenue Next 2Y10.33%
Revenue Next 3Y10.35%
Revenue Next 5Y10.82%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
BSY Yearly Revenue VS EstimatesBSY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B
BSY Yearly EPS VS EstimatesBSY Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.5 1 1.5 2

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4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 28.22 indicates a quite expensive valuation of BSY.
  • Compared to the rest of the industry, the Price/Earnings ratio of BSY is on the same level as its industry peers.
  • BSY's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.98.
  • With a Price/Forward Earnings ratio of 23.95, BSY is valued on the expensive side.
  • The rest of the industry has a similar Price/Forward Earnings ratio as BSY.
  • The average S&P500 Price/Forward Earnings ratio is at 28.01. BSY is around the same levels.
Industry RankSector Rank
PE 28.22
Fwd PE 23.95
BSY Price Earnings VS Forward Price EarningsBSY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • BSY's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. BSY is cheaper than 67.52% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, BSY is valued a bit cheaper than the industry average as 70.44% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 21.41
EV/EBITDA 25.94
BSY Per share dataBSY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4 -4

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of BSY may justify a higher PE ratio.
  • BSY's earnings are expected to grow with 12.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.45
PEG (5Y)2.27
EPS Next 2Y12.52%
EPS Next 3Y12.92%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • BSY has a yearly dividend return of 0.82%, which is pretty low.
  • In the last 3 months the price of BSY has falen by -22.93%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
  • BSY's Dividend Yield is rather good when compared to the industry average which is at 0.61. BSY pays more dividend than 89.42% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, BSY's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.82%

5.2 History

  • BSY has been paying a dividend for over 5 years, so it has already some track record.
  • BSY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years4
BSY Yearly Dividends per shareBSY Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

  • BSY pays out 30.41% of its income as dividend. This is a sustainable payout ratio.
DP30.41%
EPS Next 2Y12.52%
EPS Next 3Y12.92%
BSY Yearly Income VS Free CF VS DividendBSY Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BSY Dividend Payout.BSY Dividend Payout, showing the Payout Ratio.BSY Dividend Payout.PayoutRetained Earnings

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BENTLEY SYSTEMS INC-CLASS B

NASDAQ:BSY (2/25/2026, 12:29:02 PM)

32.45

+0.11 (+0.34%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-05
Earnings (Next)02-26
Inst Owners46.83%
Inst Owner Change4.69%
Ins Owners40.33%
Ins Owner Change-0.53%
Market Cap9.85B
Revenue(TTM)1.46B
Net Income(TTM)269.25M
Analysts78
Price Target55.07 (69.71%)
Short Float %8.81%
Short Ratio5.78
Dividend
Industry RankSector Rank
Dividend Yield 0.82%
Yearly Dividend0.24
Dividend Growth(5Y)N/A
DP30.41%
Div Incr Years2
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)4.45%
Min EPS beat(2)-2.54%
Max EPS beat(2)11.45%
EPS beat(4)2
Avg EPS beat(4)4.67%
Min EPS beat(4)-4.04%
Max EPS beat(4)13.82%
EPS beat(8)5
Avg EPS beat(8)9.68%
EPS beat(12)9
Avg EPS beat(12)11.56%
EPS beat(16)13
Avg EPS beat(16)13.89%
Revenue beat(2)1
Avg Revenue beat(2)-0.11%
Min Revenue beat(2)-0.85%
Max Revenue beat(2)0.63%
Revenue beat(4)2
Avg Revenue beat(4)-0.34%
Min Revenue beat(4)-1.14%
Max Revenue beat(4)0.63%
Revenue beat(8)3
Avg Revenue beat(8)-0.85%
Revenue beat(12)6
Avg Revenue beat(12)-0.02%
Revenue beat(16)8
Avg Revenue beat(16)0.08%
PT rev (1m)-2.5%
PT rev (3m)-7.32%
EPS NQ rev (1m)0.27%
EPS NQ rev (3m)0.92%
EPS NY rev (1m)0.12%
EPS NY rev (3m)-1.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.43%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.2%
Valuation
Industry RankSector Rank
PE 28.22
Fwd PE 23.95
P/S 6.75
P/FCF 21.41
P/OCF 20.59
P/B 8.24
P/tB N/A
EV/EBITDA 25.94
EPS(TTM)1.15
EY3.54%
EPS(NY)1.35
Fwd EY4.17%
FCF(TTM)1.52
FCFY4.67%
OCF(TTM)1.58
OCFY4.86%
SpS4.81
BVpS3.94
TBVpS-4.6
PEG (NY)2.45
PEG (5Y)2.27
Graham Number10.09
Profitability
Industry RankSector Rank
ROA 7.77%
ROE 22.53%
ROCE 13.59%
ROIC 10.86%
ROICexc 11.6%
ROICexgc N/A
OM 24.23%
PM (TTM) 18.44%
GM 81.2%
FCFM 31.52%
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
ROICexc(3y)8.22%
ROICexc(5y)11.91%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)10%
ROCE(5y)13.18%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y4.29%
ROICexc growth 5Y-15.93%
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
F-Score8
Asset Turnover0.42
Health
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 2.71
Debt/EBITDA 2.97
Cap/Depr 27.71%
Cap/Sales 1.26%
Interest Coverage 32.41
Cash Conversion 113.9%
Profit Quality 170.89%
Current Ratio 0.61
Quick Ratio 0.61
Altman-Z 3.23
F-Score8
WACC10.35%
ROIC/WACC1.05
Cap/Depr(3y)27.47%
Cap/Depr(5y)32.2%
Cap/Sales(3y)1.59%
Cap/Sales(5y)1.72%
Profit Quality(3y)148.6%
Profit Quality(5y)185.51%
High Growth Momentum
Growth
EPS 1Y (TTM)8.49%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%12.5%
EPS Next Y11.5%
EPS Next 2Y12.52%
EPS Next 3Y12.92%
EPS Next 5Y14.67%
Revenue 1Y (TTM)11.12%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%12.05%
Revenue Next Year10.24%
Revenue Next 2Y10.33%
Revenue Next 3Y10.35%
Revenue Next 5Y10.82%
EBIT growth 1Y22.88%
EBIT growth 3Y18.11%
EBIT growth 5Y17.09%
EBIT Next Year16.54%
EBIT Next 3Y14.79%
EBIT Next 5Y17.29%
FCF growth 1Y34.82%
FCF growth 3Y15.91%
FCF growth 5Y22.26%
OCF growth 1Y30.85%
OCF growth 3Y14.76%
OCF growth 5Y20.58%

BENTLEY SYSTEMS INC-CLASS B / BSY FAQ

Can you provide the ChartMill fundamental rating for BENTLEY SYSTEMS INC-CLASS B?

ChartMill assigns a fundamental rating of 5 / 10 to BSY.


Can you provide the valuation status for BENTLEY SYSTEMS INC-CLASS B?

ChartMill assigns a valuation rating of 4 / 10 to BENTLEY SYSTEMS INC-CLASS B (BSY). This can be considered as Fairly Valued.


Can you provide the profitability details for BENTLEY SYSTEMS INC-CLASS B?

BENTLEY SYSTEMS INC-CLASS B (BSY) has a profitability rating of 8 / 10.


What are the PE and PB ratios of BENTLEY SYSTEMS INC-CLASS B (BSY) stock?

The Price/Earnings (PE) ratio for BENTLEY SYSTEMS INC-CLASS B (BSY) is 28.22 and the Price/Book (PB) ratio is 8.24.


What is the financial health of BENTLEY SYSTEMS INC-CLASS B (BSY) stock?

The financial health rating of BENTLEY SYSTEMS INC-CLASS B (BSY) is 3 / 10.